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FINANCIAL NEWS
Aldar gains approval for USD1.5b bond
28 Feb 2011
(MENAFN) The Chief Financial Officer at Aldar Properties, Shafqat Malik, said that the company’s shareholders accepted the issuance of a bond worth USD1.5 billion, reported Gulf News.
Malik said that the shareholders also approved placing the planned bonds worth USD762.2 million with the investment company Mubadala.
The CFO said that the issuance of bonds, sukuk, debentures or non-shares-changeable bonds of a total worth of USD1.5 billion gained the approval of the indebted shareholders.
However, Malik said that the company is not planning to issue the bond any time soon.
It is worth mentioning that a convertible bond worth USD969 million had been previously issued by the Abu Dhabi Company to Mubadala.
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